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Willeson Metals & Marcel Colomb First Nation Sign Exploration Agreement on the Lynn Lake Gold Projects

Willeson Metals & Marcel Colomb First Nation Sign Exploration Agreement on the Lynn Lake Gold Projects

May 26, 2022


Toronto, Ontario, May 26, 2022 Willeson Metals Corp. (the “Company” or “Willeson”) and Marcel Colomb First Nation (“MCFN”) are pleased to announce the joint signing of an Exploration Agreement (“EA”) for the Company’s Lynn Lake Projects.

During the past 18 months, Willeson and MCFN have been engaging with each other to develop a strong and respectful relationship. This relationship is as important as the EA itself, allowing for valuable time spent with both sides listening, sharing information and discussing future opportunities to collaborate. The relationship established by the EA will allow both groups to work towards the common goal of making a Tier 1 discovery and ultimately realizing economic development at Willeson’s Lynn Lake Projects in Manitoba.

Stephanie Hart, President and CEO of Willeson, commented, “Willeson is honoured to sign this exploration agreement with the Marcel Colomb First Nation. This document embodies our values and beliefs regarding responsible business, respecting Indigenous peoples, and understanding our social and environmental impacts. We are appreciative for the opportunity to work and engage with the Marcel Colomb First Nation. We believe that this partnership is critical to unlocking mineral potential and creating value that benefits both parties. This is a major milestone for moving our projects forward.”

Marcel Colomb First Nation leader, Chief Christopher Colomb, stated, “On behalf of the Marcel Colomb First Nation, I am very pleased to announce that we have come to a mutual agreement with Willeson that allows for the Marcel Colomb First Nation to ensure that its long-term socio-economic interests will benefit the membership for many years to come. The negotiations were done in a respectful way, built on trust that recognizes and affirms our Inherent and Treaty Rights while at the same time ensuring that we share in the benefits that will come from the natural resources of our traditional territory. With a process we established that is respectful and honours our natural environment, homelands, traditions, protocols and language, we are honoured to be signatory to this Exploration Agreement that will allow for a win-win situation for future generations.”

This EA establishes the framework for how Willeson and MCFN will work transparently together, communicate regularly, support each other’s activities, share in the economic and financial benefits, and collaborate to realize exploration success at Willeson’s Lynn Lake Projects. The EA, along with our strong working relationship, will enhance the value of the Lynn Lake Projects for all stakeholders and help contribute to local communities, local growth and development.

Lynn Lake Projects Overview

The Company’s mining claims comprise the Beaucage, Hatchet, Barrington-Tow, and Hughes projects in the Lynn Lake area of Manitoba (Figure 1). These projects are situated within the Paleoproterozoic Lynn Lake greenstone belt which lies within the Reindeer Zone of the Trans-Hudson Orogen. The belt is a historical base metals mining camp, relatively underexplored for precious metals.

Ian Trinder, Vice President, Exploration of Willeson commented “Our team coordinated with the MCFN Chief and Council while carrying out Willeson’s exploration program completed in the latter half of 2021. Our 2021 exploration fieldwork has confirmed high grade historical gold assay values associated with multiple styles of structurally controlled mineralization at the Beaucage Gold Project. We look forward to working with the MCFN to further identify potential opportunities for their participation in our summer 2022 field program at Beaucage.”

Community Relations

Prior to signing the EA, Willeson and the MCFN had already collaborated on some important programs to bring benefits to the MCFN community members. In April 2020, Willeson and MCFN worked together to organize, order and deliver emergency supplies to families in need of diapers, formula, sanitizer, and medical items in the early phase of the pandemic lockdown. In December 2021, Willeson and MCFN collaborated again on MCFN’s Christmas Hamper Drive, which delivered meals and gifts to families and helped provide relief from inflated prices of food, toys and other traditional items that are above market value in the far north areas of Canada.

Valerie Pascale, Willeson’s Community Engagement Specialist, commented “Company-community trust is critical to the success of mineral exploration. A signed agreement is a document, but the trust between signing parties is the critical piece that holds the foundation of the relationship together. By continuing to act in good faith, following through on commitments and working collaboratively, Willeson and the MCFN will continue to foster that trust as we move forward on the Lynn Lake Projects, together”.

Figure 1: Regional Location of Willeson’s Lynn Lake Projects

About Marcel Colomb First Nation

MCFN’s Black Sturgeon Reserve is located on Hughes Lake, 30 km east of the town of Lynn Lake, Manitoba, Canada. The community is affiliated with the Swampy Cree Tribal Council and has approximately 450 registered members, most of whom live in Lynn Lake while about 80 reside on-reserve. Chief Colomb and Councillors actively work to enhance economic development and opportunities for the community, including sustainable partnerships with the private sector.

About Willeson Metals Corp.

Willeson is a Canadian-based, privately-owned mineral exploration company focused on the acquisition, exploration, and development of high-quality gold projects in the province of Manitoba, with a particular emphasis on Proterozoic terrains which, in Canada, have long been under-explored for gold. The company’s portfolio of four, 100%-owned, gold projects are all located within the Proterozoic Lynn Lake greenstone belt of northern Manitoba.

Willeson’s vision is to explore for and discover Tier 1 gold deposits in Proterozoic terrains and to do so in a responsible, safe and sustainable manner in order to create long-term value for all stakeholders, including the communities near its properties.

For further information contact:

Stephanie Hart
President & CEO Willeson Metals
289 937 6657

Joanne Jobin
Investor Relations Willeson Metals
647 964 0292

Qualified Person

Ian Trinder, P.Geo. and Vice President, Exploration, for the Company and a qualified person as defined by National Instrument 43-101, has reviewed, and approved the technical content of this news release.

Cautionary Statements Regarding Forward Looking Information

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of Willeson, are forward- looking statements.

Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "plans", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this announcement relate to, among other things: the Company’s objectives, goals or future plans, statements, exploration and development plans, timing of the commencement of operations and estimates of market conditions, the outcome or results of the EA, and future partnerships with the MCFN. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, Willeson does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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